Investing.com - Oil prices fell on Tuesday, dented by worries about the demand outlook and rising supply, while hopes for a deal between OPEC and Russia on output cuts faded. Brent for April delivery was down 3.2% to $33.14 a barrel by 10.10 GMT, after settling down 4.9% in the previous session.
U.S. crude was down 3.27% at $30.59 after falling 5.9% the session before. Russia's energy minister and Venezuela's oil minister discussed the possibility of holding joint consultations between OPEC and non-OPEC countries in the near future, the Russian Energy Ministry said on Monday. But analysts say a successful agreement between OPEC and Russia to cut production is unlikely, as stronger prices would bring previously shelved production back to the market.